Yum Brands Inc. is targeting Africa and other emerging global markets for expansion for its venerable KFC chain that has become a dominant fast-food player in China but has struggled in the U.S.
Louisville-based Yum said Wednesday that it expects to double the number of KFC restaurants in Africa to about 1,200 by 2014. Yum projects that KFC will grow into a nearly $2 billion brand in Africa within four years and will contribute more than $100 million in profit to Yum’s international division, which excludes China – which has its own division.
“Africa has tremendous opportunity,” Yum Chairman and CEO David C. Novak said during the company’s investor-analyst conference in New York. “It’s a great emerging continent, and we have a chance to really lead in that business.”